Erica Aisner confirms Subchapter V Plan for New York Classic Motors, LLC

On May 2, 2022, Erica Aisner successfully confirmed the Subchapter V Chapter 11 Plan of Reorganization for New York Classic Motors, LLC which operates the Classic Car Club in New York City. This unique membership based private luxury automobile club is located on Pier 76 on New York City’s west side. Pier 76 was leased by the Club from the Hudson River Park Trust (HRPT) which sought to evict the Club for failure to pay rent following the Covid-19 pandemic. As a result of the bankruptcy filing, the Club was able to stave off an eviction, negotiate an extended occupancy period during which it would be able to identify and relocate to a new home,  and ultimately proposed a Plan that restructured its obligations as it got back on its feet post-pandemic. Under the Plan, the Club was able to discharge significant arrears that were owed to HRPT and its vendors and suppliers received a significant recovery on their claims.

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